He has “no name, no face, no party,” “never runs for office,” “and yet he governs,” François Hollande said about “his true opponent” in 2012. The speech went viral. But that courage didn’t last long.
Under the nimbus of its illustrious performance, the European Banking Authority has reduced the world of money to two abbreviations: VC (virtual currency) and FC (fiat currency). And it has taken sides.
by Don Quijones • • Comments Off on Mini Tax Havens: How Europe’s 1% Gets to Pay Only 1%
Under the guise of austerity, taxes on the middle class and small businesses in Spain and other countries have reached confiscatory levels. But for the wealthy, there is a special deal – and it erupted into a scandal.
by Wolf Richter • • Comments Off on This Debt Is Explosive, And it Sits on the Shelf Everywhere, Waiting to go off
I was interviewed by Jorge Nascimento Rodrigues for “Janela na web” (a Portuguese site) and the printed edition of Expresso. After what I said, he might never interview me again :-]
by Don Quijones • • Comments Off on Sex, Drugs and Dodgy Accounting: Spain’s New Growth Strategy
When it comes to creative accounting, few can hold a candle to Spain’s finance minister Cristobal Montoro, who unveiled his latest scheme to “grow” the economy: adding prostitution and illegal drugs to GDP to solve a host of urgent problems.
by Wolf Richter • • Comments Off on Selling Your European Stocks Before Everyone Sees This Chart?
The European economy has been on a phenomenal roll since 2012, according to the soaring Stoxx 600 stock index. Recessions, unemployment fiascos, toppling banks, collapsing auto sales… they didn’t exist. But what the heck is wrong with this picture?
by Don Quijones • • Comments Off on Wreckonomics: Troika Accelerates Demolition of Spain’s Economy
The people must pay” if they want to maintain the current levels of public services, warned James Daniel, the man in charge of the IMF’s mission in Spain, who, as an employee of the IMF, pays no income taxes to any country.
by Wolf Richter • • Comments Off on Winner Accuses French Government of “Massive” Election Fraud
Election results for the European Parliament mortified the French political class, as this universally despised layer is called in France. But now the winner has the gall to accuse the government of “having rigged the vote by the most odious means” to prevent its victory.
